Jadestone Energy PLC New Debt Facility (2718Q)
17 Febrero 2023 - 01:00AM
UK Regulatory
TIDMJSE
RNS Number : 2718Q
Jadestone Energy PLC
17 February 2023
New Debt Facility
17 February 2023 - Singapore: Jadestone Energy plc ("Jadestone"
or the "Company"), an independent oil and gas production company
focused on the Asia-Pacific region, is pleased to announce that it
has closed a US$50 million debt facility (the "Interim Facility")
with two international banks.
The closing of the Interim Facility forms part of the previously
announced plan to arrange a reserves-based lending facility
("RBL"), which is a key element of Jadestone's medium-term
financing strategy to fund development capital at the Akatara
project and further growth through M&A.
The Interim Facility has a term of nine months and carries an
initial margin of 450 basis points over SOFR, which steps up in the
event repayment occurs more than three months after closing. The
RBL workstreams are progressing in line with management
expectations and it is expected to close around the end of Q1 2023,
superseding the Interim Facility.
Paul Blakeley, President and CEO commented:
"We are pleased to partner with two international banks on this
new interim debt facility, which will provide additional short-term
financial flexibility as we work to conclude the RBL, our
longer-term debt vehicle. The RBL will provide a much larger debt
capacity, and we are making good progress with several potential
lenders to conclude this around the end of the first quarter this
year. As we always envisaged, the RBL will provide a secure funding
source for the Akatara gas project in Indonesia, as well as
significant flexibility for further growth options at a very
exciting time for M&A in the region."
For further information, please contact:
Jadestone Energy plc
Paul Blakeley, President and CEO +65 6324 0359 (Singapore)
Bert-Jaap Dijkstra, CFO
Phil Corbett, Investor Relations Manager +44 7713 687467 (UK)
ir@jadestone-energy.com
Stifel Nicolaus Europe Limited (Nomad, +44 (0) 20 7710 7600 (UK)
Joint Broker)
Callum Stewart
Jason Grossman
Ashton Clanfield
Jefferies International Limited (Joint +44 (0) 20 7029 8000 (UK)
Broker)
Tony White
Will Soutar
Camarco (Public Relations Advisor) +44 (0) 203 757 4980 (UK)
Billy Clegg jse@camarco.co.uk
Georgia Edmonds
Elfie Kent
About Jadestone Energy
Jadestone Energy plc is an independent oil and gas company
focused on the Asia-Pacific region. It has a balanced, low risk,
full cycle portfolio of development, production and exploration
assets in Australia, Malaysia, Indonesia and Vietnam.
The Company has a 100% operated working interest in the Stag
oilfield and in the Montara project, both offshore Australia. Both
the Stag and Montara assets include oil producing fields, with
further development and exploration potential. The Company also has
a 16.67% non-operated interest in the North West Shelf Oil Project
offshore Western Australia, comprising four oil fields containing
significant upside potential through potential infill drilling and
life extension activities.
The Company has interests in four oil producing licences
offshore Peninsular Malaysia; two operated and two non-operated
positions, and has signed an agreement to acquire a non-operated
interest in the Sinphuhorm producing gas field onshore
Thailand.
Further, the Company has a 100% operated working interest in two
gas development blocks in Southwest Vietnam, and an operated 100%
interest in the Lemang PSC, onshore Sumatra, Indonesia, which
includes the Akatara gas field development, where first production
is expected in the first half of 2024.
Led by an experienced management team with a track record of
delivery, who were core to the successful growth of Talisman's
business in Asia, the Company is pursuing an acquisition strategy
focused on growth and creating value through identifying,
acquiring, developing and operating assets in the Asia-Pacific
region.
Jadestone Energy plc (LEI: 21380076GWJ8XDYKVQ37) is listed on
the AIM market of the London Stock Exchange (AIM: JSE). The Company
is headquartered in Singapore. For further information on the
Company please visit www.jadestone-energy.com.
The information contained within this announcement is considered
to be inside information prior to its release, as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 which is part
of UK law by virtue of the European Union (Withdrawal) Act
2018.
Glossary
SOFR Secured overnight financing rate
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